MakeMyTrip (NASDAQ:MMYT) Upgraded to Strong-Buy at Zacks Research

MakeMyTrip (NASDAQ:MMYT) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on MMYT. HSBC started coverage on shares of MakeMyTrip in a research note on Thursday, July 2nd. They set a “buy” rating and a $70.00 price objective for the company. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a report on Saturday, June 27th. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Finally, Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $86.75.

MakeMyTrip Trading Up 6.1%

NASDAQ MMYT opened at $56.49 on Monday. MakeMyTrip has a 12 month low of $32.67 and a 12 month high of $104.99. The stock has a market cap of $6.29 billion, a P/E ratio of 225.96 and a beta of 0.98. The stock’s fifty day moving average price is $48.83 and its 200-day moving average price is $52.48.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MMYT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of MakeMyTrip by 11.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock valued at $1,642,000 after purchasing an additional 1,721 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of MakeMyTrip by 24.7% in the second quarter. Daiwa Securities Group Inc. now owns 3,424 shares of the technology company’s stock worth $336,000 after buying an additional 679 shares during the last quarter. Nebula Research & Development LLC boosted its holdings in shares of MakeMyTrip by 9.2% in the second quarter. Nebula Research & Development LLC now owns 15,890 shares of the technology company’s stock worth $1,558,000 after buying an additional 1,345 shares during the last quarter. Sei Investments Co. grew its position in MakeMyTrip by 14.9% during the second quarter. Sei Investments Co. now owns 520,853 shares of the technology company’s stock valued at $51,054,000 after buying an additional 67,367 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in MakeMyTrip by 108.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 201,101 shares of the technology company’s stock valued at $19,712,000 after buying an additional 104,641 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

About MakeMyTrip

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.